Green Brick Partners (GRBK) CEO receives time- and performance-based RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Green Brick Partners, Inc. reported that Chief Executive Officer James R. Brickman received equity-based compensation awards in the form of restricted stock units and performance-based restricted stock units, each covering 16,917 underlying shares of common stock. These RSUs vest in three equal annual installments, while the PSUs can be earned at 50% to 200% of target based on the company’s performance over one and three-year periods and then vest on the third anniversary of the grant date. Following these awards, Brickman holds common stock directly and indirectly, along with previously granted RSUs and performance-based RSUs that convert into common shares on a one-for-one basis upon vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Brickman James R.
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 16,917 | $0.00 | -- |
| Grant/Award | Performance Based Restricted Stock Units | 16,917 | $0.00 | -- |
| Grant/Award | Performance Based Restricted Stock Units | 16,917 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Based Restricted Stock Units | -- | -- | -- |
| holding | Performance Based Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 16,917 shares (Direct);
Performance Based Restricted Stock Units — 16,917 shares (Direct);
Common Stock — 1,652,861 shares (Direct);
Common Stock — 300,000 shares (Indirect, By Jim and Susan Brickman Grandchildren's Trust)
Footnotes (1)
- The Restricted Stock Units ("RSUs") convert into shares of Common Stock on a one-for-one basis upon vesting. These RSUs were granted pursuant to the Company's Long-Term Incentive Program (the "LTIP") under its 2024 Omnibus Incentive Plan (the "Plan") and vest equally on the first, second and third anniversary of the Grant Date. These Performance-Based Restricted Stock Units ("PSUs") convert into shares of Common Stock on a one-for-one basis upon vesting. These PSUs were granted pursuant to the Company's LTIP and are earned in four segments, (1) 16.66% are earned based on performance during the first year, (2) 16.67% are earned based on performance during each of the second and third years and (3) 50% are earned based on the Company's three-year performance. The PSUs in each segment can be earned between 50% and 200% based on the Company's performance, provided that the Company's performance exceeds the threshold performance level. Once earned, the PSUs vest on the third anniversary of the Grant Date. These PSUs were granted pursuant to the Company's LTIP and are earned between 50% and 200% based on the Company's performance, provided that the Company's performance exceeds the threshold performance level. Once earned, the PSUs vest on the third anniversary of the Grant Date.
FAQ
What equity awards did GRBK CEO James R. Brickman receive in this Form 4?
James R. Brickman received restricted stock units and performance-based restricted stock units, each covering 16,917 shares of common stock. These awards are part of Green Brick Partners’ long-term incentive program under its 2024 Omnibus Incentive Plan.
How do the GRBK restricted stock units (RSUs) for James Brickman vest?
The RSUs granted to James Brickman vest in three equal annual installments on the first, second and third anniversaries of the grant date. Once vested, each RSU converts into one share of Green Brick Partners common stock.
How are the GRBK performance-based RSUs for James Brickman earned?
The performance-based RSUs are earned between 50% and 200% of the target amount based on Green Brick Partners’ performance. Portions are tied to performance in each of the first three years and to three-year performance, then vest on the third anniversary of the grant date.
What does one-for-one conversion mean for GRBK RSUs and PSUs?
One-for-one conversion means each vested restricted stock unit or performance-based restricted stock unit converts into a single share of Green Brick Partners common stock. This structure directly links the number of vested units to the number of shares ultimately received.
Are the GRBK equity awards to James Brickman open-market purchases or compensation grants?
The equity awards are compensation-related grants, not open-market purchases. They were issued under Green Brick Partners’ long-term incentive program, with no purchase price per share and vesting based on time and performance conditions.